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Tuesday, August 21, 2018 9:28:59 AM EDT

Industrial Production Updated 15-Aug-18 10:06AM ET

Industrial production increased 0.1% in July ( consensus +0.4%) following an upwardly revised 1.0% increase (from +0.6%) in June.

The capacity utilization rate was 78.1% ( consensus 78.3%), unchanged from June, which was revised up from a previously reported 78.0%.

Manufacturing output increased 0.3% on the heels of a 0.8% increase in June, with the index for durables up 0.4% and the index for nondurables up 0.2%.

Motor vehicle assemblies edged up to a seasonally adjusted annual rate of 11.18 million units from 11.15 million units in June.

Mining output declined 0.3% after increasing 2.9% in June.

Utilities output fell 0.5% after declining 0.7% in June.

The total capacity utilization rate of 78.1% is 1.7 percentage points below its long-run (1972-2017) average.

The key takeaway from the report is that it showed continued strength in manufacturing output, which offset declines in mining and utilities production.
Industrial Production
Total Index0.1%1.0%-0.8%1.2%0.5%
Capacity Utilization
Total Industry78.1%78.1%77.5%78.3%77.5%